U.S. Drought May Increase Corn Prices
Unfavorable weather in southern US could affect Midwest crop
Corn prices may reach a record $8.75 per bushel before the harvest if the current drought in the southern U.S. reaches the Midwest, according to Jack Scoville, vice president for Price Futures Group in Chicago.
On the other hand, if the crop is not harmed by extreme weather and production is "very good," prices may drop to $4.50 per bushel.
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